Repaints AGAIG Best Trading Chart Setup For ThinkOrSwim

[spat]

Could you please help us with the entry and exit strategy. I am using 1 min chart and during the range market(90% market will be in the range) and signals are not working in my favour. Am I missing something ? I have been loosing consistently. Please assist. Thanks a ton.

 

[cando13579]

Could you please help us with the entry and exit strategy. I am using 1 min chart and during the range market(90% market will be in the range) and signals are not working in my favour. Am I missing something ? I have been loosing consistently. Please assist. Thanks a ton.

He is using it on the 5minutes chart

 

[Snipe81]

I’m testing it with ur line with arrows and price lags compared to normal candle chart is this normal?

 

[useThinkScript]

I’m testing it with ur line with arrows and price lags compared to normal candle chart is this normal?

You are correct. These charts use the Heiken Ashi Candles

Heikin Ashi charts does obscure actual price information.
The actual closing price is NOT displayed on a Heikin Ashi candlestick. You only see the averaged closing price; which lags actual price.

The actual closing price is not displayed on the chart. It is listed up next to the symbol box.

 

[gobulls]

Starting to understanding the movement of this excellent chart setup.
is it possible to display the price along with the price pointer label ?


I could see it when hovering over the mouse at the price pointer , Just a thought that it would be nice to see along with the label. Thanks @csricksdds for this wonderful setup


Probably a dumb question, Does the candle type should be always Heiken Ashi always for this chart? Thanks for your time

 

[csricksdds]

Starting to understanding the movement of this excellent chart setup.
is it possible to display the price along with the price pointer label ?

Look to the right...the price is at the right end

I could see it when hovering over the mouse at the price pointer , Just a thought that it would be nice to see along with the label. Thanks @csricksdds for this wonderful setup

Thanks...it will be as far right as you have the time axis bars to the right set...I have 10 to the right and it's actually more than I need

Probably a dumb question, Does the candle type should be always Heiken Ashi always for this chart? Thanks for your time

You can use any candle that you wish...I just use Heikin Ashi when using candles for day trading

 

[gobulls]

You can use any candle that you wish...I just use Heikin Ashi when using candles for day trading

I just noticed on the spy chart , in the same green bar , the up and down arrow showed up, Is that expected ? Edit : It is gone now

 

[csricksdds]

I'm not on that chart right now but you will get arrows according to how each indicator responds (which is why we use multiple indicators).....that was an apparent bounce up and then it looks like a second bullish arrow...make sure you take into consideration the market overall, multiple indicators indicating change in direction, and your upper labels as well

 

[gobulls]

I'm not on that chart right now but you will get arrows according to how each indicator responds (which is why we use multiple indicators).....that was an apparent bounce up and then it looks like a second bullish arrow...make sure you take into consideration the market overall, multiple indicators indicating change in direction, and your upper labels as well

Thank you

 

[csricksdds]

Thank you

You're welcome...thanks for the question

 

[suprtrev]

Any way to make a watchlist column that shows when a stock goes "long" or "short"?

My apologies. I made the assumption that by looking at the chart the words "Long" and "Short" would have been enough to know which indicator I was referring to. That said, here's the script and if possible, the watchlist column would include the words "Long" or "Short" at the time they appear on the chart.

# AsGoodAsItGets Indicator without Arrows
#CSR Buy/Sell Arrows with Short/Long Bubbles
#Developed 4-9-22 First Edition 8-23-22 Revised
#No Arrow Edition 1/1/23

declare upper;

input atrreversal = 2.0;

def priceh = MovingAverage(AverageType.EXPONENTIAL, high, 5);
def pricel = MovingAverage(AverageType.EXPONENTIAL, low, 5);

def EIL = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = .01, "absolute reversal" = .05, "atr length" = 5, "atr reversal" = atrreversal).lastL;
def EIH = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = .01, "absolute reversal" = .05, "atr length" = 5, "atr reversal" = atrreversal).lastH;

plot signaldown = !isNAN(EIH);

AddChartBubble(SignalDown, high+.15, "Short", Color.White, yes);

plot signalrevBot = !isNaN(EIL);

AddChartBubble(Signalrevbot, low-.15, "Long", Color.White, no);

input usealerts = yes;
alert(usealerts and signaldown[1] == 1, "Short", alert.bar, sound.ring);
alert(usealerts and signalrevbot[1] == 1, "Long", alert.bar, sound.ring);

 

[MerryDay]

Any way to make a watchlist column that shows when a stock goes "long" or "short"?

My apologies. I made the assumption that by looking at the chart the words "Long" and "Short" would have been enough to know which indicator I was referring to. That said, here's the script and if possible, the watchlist column would include the words "Long" or "Short" at the time they appear on the chart.

# AsGoodAsItGets Indicator without Arrows
#CSR Buy/Sell Arrows with Short/Long Bubbles
#Developed 4-9-22 First Edition 8-23-22 Revised
#No Arrow Edition 1/1/23

declare upper;

input atrreversal = 2.0;

def priceh = MovingAverage(AverageType.EXPONENTIAL, high, 5);
def pricel = MovingAverage(AverageType.EXPONENTIAL, low, 5);

def EIL = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = .01, "absolute reversal" = .05, "atr length" = 5, "atr reversal" = atrreversal).lastL;
def EIH = ZigZagHighLow("price h" = priceh, "price l" = pricel, "percentage reversal" = .01, "absolute reversal" = .05, "atr length" = 5, "atr reversal" = atrreversal).lastH;

plot signaldown = !isNAN(EIH);

AddChartBubble(SignalDown, high+.15, "Short", Color.White, yes);

plot signalrevBot = !isNaN(EIL);

AddChartBubble(Signalrevbot, low-.15, "Long", Color.White, no);

input usealerts = yes;
alert(usealerts and signaldown[1] == 1, "Short", alert.bar, sound.ring);
alert(usealerts and signalrevbot[1] == 1, "Long", alert.bar, sound.ring);

The Long Short Arrow script cannot be put into in a watchlist, as it is a repainter.
The forum does not make repainting watchlists, scanners, or conditional orders.
Because they repaint.

Repainter signals might show on your watchlist, but not show on the chart (because it repainted).
You think the script is broken.

The signal might show on the chart, where it was repainted later, but it never appeared on the watchlist because watchlists are real-time so it never showed.
You will think the script is broken.

Unfortunately no, the repainting script that you are requesting is not suitable for watchlists.

 

[PKPet]

I trade using only 1 day timeframe. Does the signal with AGAIC appear like the TTM Scalp alert 3 days after you should have placed the trade? Is there a delay in the signal? You can't trade the TTM Scalp alert because it is 3 days late in appearing. Thanks

 

[csricksdds]

you might want to add my Dashboard Traffic Light to this chart as well. You can set its time frame to match the one you are using. The Traffic Light looks at direction from multiple perspectives.

The Traffic Light Link: https://usethinkscript.com/threads/agaig-traffic-light-for-thinkorswim.19246/

 

[BillMasi.]

Can someone change this bubble so it displaces one or two bars to the right? As is the bubbles at times cover the last bar. Many thanks,

def limit3 = !IsNaN(close) and IsNaN(close [-1] )&& LowestAll(BarNumber());
AddChartBubble(limit3, static3, "LoAlgoPivot", Color.dark_Green);

 

[csricksdds]

Can someone change this bubble so it displaces one or two bars to the right? As is the bubbles at times cover the last bar. Many thanks,

def limit3 = !IsNaN(close) and IsNaN(close [-1] )&& LowestAll(BarNumber());
AddChartBubble(limit3, static3, "LoAlgoPivot", Color.dark_Green);

Two possible choices for you. In the code go to line 15, at the end change the no to yes. Or you van download the same called AsGoodAsItGets_Arrows only
https://usethinkscript.com/threads/agaig-zigzag-arrows-for-thinkorswim.18303/
shared link: http://tos.mx/!DB0p02Mb

Let me know if this helps?

 

[BillMasi.]

Two possible choices for you. In the code go to line 15, at the end change the no to yes. Or you van download the same called AsGoodAsItGets_Arrows only
https://usethinkscript.com/threads/agaig-zigzag-arrows-for-thinkorswim.18303/
shared link: http://tos.mx/!DB0p02Mb

Let me know if this helps?

Many thanks, CR. I'm imagining you treading water instead of trading as the storm curves around The Villages today. Here in Vero we were on the right side of this one!
Your Price Marker is a favorite. Wonder how we ever traded Renko or HA without it.
I could write a book about trading with first the Arrows, then the Double Arrows and now the simplified, no-price version #3.
Thank you, Thank you, Thank you.

 

[csricksdds]

Many thanks, CR. I'm imagining you treading water instead of trading as the storm curves around The Villages today. Here in Vero we were on the right side of this one!
Your Price Marker is a favorite. Wonder how we ever traded Renko or HA without it.
I could write a book about trading with first the Arrows, then the Double Arrows and now the simplified, no-price version #3.
Thank you, Thank you, Thank you.

Thanks for your kind feedback. That makes my day!

 

[BillMasi.]

Just saw this.

Here is an example from the full revised code below on how to move the bubbles using the code you added.

1. The input bubblemover moves the bubbles sideways the number of bars input.
2. Both bm and bm1 are used within bubblespot to dynamically locate where to place the bubble
3. Bubblespot is indicating, with bubblemover set to 2, that the 2nd bar in the expansion (isNaN(close[bm])) is where to place the bubble . It is then necessary to locate the area within the chart (!isNaN(close[bm1]) where the data is located.
3a. Then the addchartbubble's Htarget[bm1] would be where to find the data Bubblepot identified (!isNaN(close[bm1])

Bubblemover Example Code


4. Without the bubblemover code, bubblespot and addchart would look like this


5.If you wanted to move the bubbles 4 bars to the right instead of 2, you would have to change the numbers manually from 2/3 to 4/5 for each addchartbubble code.


6. If you wanted to change from 2 bars to 4 bars movement, with bubblemover code, you would just change the input bubblemover to 4.

Here is the full revised code

Thanks for this !

 

[19seal]

UPDATE: 4/18/24 added overview of indicators used and why, explanation located below chart image

The market has three moves: Up, Down and Sideways. My goal is the trade these movements using the simplest of indicators to head me in the right direction. It works on all time frames (the best being an hour or less).

Chart Link: http://tos.mx/!mPuNL9nn Click here for --> Easiest way to load shared links

I only day trade one chart (SPY, SPX, or QQQ) following my indicators (knowing that they repaint - but so does life!). I try to never trade up in a down market, nor down in an up market. I also watch for 8/20 crossovers and will exit a put if it crosses up, or a call if it crosses down (some traders trade only the crossovers).

an overview the indicators and labels UPDATE: 4/18/24
First we’ll discuss the Labels at top of the chart:

ATR: This label represents the Average True Range for Daily/Weekly expected movement. Since candles move 6-10 (average) on any time frame this one is set to (9) for a nine period trend for Days or Weeks. It could be changed to any lookback number you choose.

PSAR Trans: PSAR is defined as “Parabolic Stop and Reverse” showing candle change in direction and listing how many bars ago the change took place. This Label is coordinated with the Yellow Dotted Line down on the chart with Label words “Last PSAR Transition” showing candles above/below that line. PSAR indicates when a price trend breaks ahead of a potential reversal (i.e. Follow the Money).

StackedEMAs 8-13-21-34-55: These are all Fibonacci Levels (levels frequently used as turning points by algorithmic computer traders). When the label is Green these levels are lined up positive (probable uptrend); when Red they are lined up negative (probable downtrend); when Yellow the market is probably choppy with no completely defined direction. I use EMAs instead of SMAs (Simple Moving Averages) since EMAs favor current trend rather than overall historic trend.

5-8 EMAs: This is a Red/Green color label to show an initial trend change possibly taking place.

ORB Yellow Bordered Label: (OPENING RANG BREAKOUT) This label is only active during actual trading hours. It will designate if the stock (ETF) is trading within, above, or below the Opening Range Breakout. On the chart it is a broken line while during the first 15 min. breakout and a solid line the rest of trading day. I am using a 15 min. Breakout Range whereas some traders prefer the first 30 minutes.

TTM Trend Label: The TTM Trend (free oscillator on TOS) is a lower oscillator showing a four color movement. My label only shows Green/Red for trend up/down. My Red/Green Candles are coordinated with the oscillator as well (but again only in the 2-color mode).

The next Label shows trend as Green “OVERALL BULLISH”; Red “OVERALL BEARISH”; or Yellow “CHOP HOLD.”

Now a look at the Chart itself:​

My chart is setup using Heikin Ashi Candles. If you use these make sure you find an explanation for these as verses regular candles. Basically Heikin Ashi candles are good for a day trading trend, with the shadows (wicks) showing direction (rather than a potential reversal as on a regular candle). Flat bottoms/tops show strong based direction with an upper/lower wick.
The Green/Red Candles giving a visual overall trend.
The candles are painted with momentum from the TTM Squeeze Indicator.
Momentum is more responsive than the default heiken ashi trend coloring.

Last PSAR Transition Yellow Dotted Line was explained above.

The Long/Short Chart Bubbles are an indicator I developed showing probable change in direction.

A solid Red/Green Line also shows a high/low probable transition trend point.

The shaded (cloud) Red/Green Box-like areas are Support and Resistance areas.

The larger White/Yellow arrows are trend reversal areas. The smaller Green/Cyan show a continuation trend for up to 8 candles. Strong reversal indications are when two or more arrows overlap each other and/or a long/short bubble is present. Because indicators repaint my goal is to have more than one indicator showing a change taking place

The White Dotted Lines show PDHi (Previous Days High) and PDLow (Previous Day Low). These are frequently Resistance/Support areas unless Stock/ETF in a breakout mode above/below yesterday’s close.

The PRICE POINTER is one of my favorites which moves up/down with actual price.

The Blue/White lines are the 8/20 EMA trend lines. The 8 moves the fastest in correlation with the 20. Both levels are Fibonacci related (I’m using a 20 instead of the 21 since the 21 is a frequent change in direction area (the 20 gives me a heads-up). Also notice when the Blue Crosses the White (Crossovers) as many individuals trade only the crossovers. Be careful with these lines approaching each other, however, as it may be a pivot rather than a crossover?

That pretty much covers my AGAIG Best Trading Chart Setup. Thanks to useThinkScript members whose indicators I am using, or have modified, for my chart!

My background in life was mostly in a visual profession. Notice that I don’t use any lower indicators as it’s difficult (at least for me) to comprehend an overload of competing information.

When I taught in The Options Club here in The Villages (largest retirement community in U.S.) my moniker was “Visual Options Trading” because:

“if you can’t see it how can you possibly trade it?”​

This is great. Thank you...I like visual trading.
Have you thought about or is it possible to write 'music' or 'tones' to the match the up and down of the price?
I know it is a whacky question...but thought I would put it out there.